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Permanens Capital Portfolio holdings
AUM
$972M
1-Year Est. Return
27.73%
This Fund
S&P 500
This Quarter
Est. Return
+7.88%
1 Year Est. Return
+27.73%
3 Year Est. Return
+76.92%
5 Year Est. Return
+81.54%
10 Year Est. Return
+277.71%
AUM
$767M
AUM Growth
+$96.3M
(+14%)
Cap. Flow
+$52.9M
Cap. Flow
% of AUM
6.91%
Top 10 Holdings %
Top 10 Hldgs %
74.87%
Holding
88
New
26
Increased
36
Reduced
8
Closed
8
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
JPMorgan BetaBuilders Europe ETF
BBEU
|
+$39.4M |
| 2 |
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
|
+$20.4M |
| 3 |
iShares Gold Trust
IAU
|
+$18.2M |
| 4 |
iShares Gold Trust Micro
IAUM
|
+$6.31M |
| 5 |
Microsoft
MSFT
|
+$6.05M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard Morningstar Growth ETF
VUG
|
+$44.9M |
| 2 |
Xtrackers MSCI Europe Hedged Equity ETF
DBEU
|
+$37.9M |
| 3 |
Vanguard Morningstar Value ETF
VTV
|
+$17.9M |
| 4 |
iShares Bitcoin Trust
IBIT
|
+$3.5M |
| 5 |
UnitedHealth
UNH
|
+$3.26M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 79.7% |
| 2 | Financials | 5.87% |
| 3 | Technology | 3.42% |
| 4 | Energy | 2.7% |
| 5 | Consumer Discretionary | 2.58% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
76
Crescent Capital BDC
CCAP
$388M
| $145K | 0.02% |
10,000
| – | – |
|
|
RC
77
Ready Capital
RC
$302M
| $142K | 0.02% |
65,000
+50,000
| +333% | +$140K |
|
78
MidCap Financial Investment
MFIC
$792M
| $126K | 0.02% |
11,029
| – | – |
|
79
BlackRock TCP Capital
TCPC
$346M
| $117K | 0.02% |
21,406
| – | – |
|
80
Opendoor
OPEN
$3.19B
| $58.3K | 0.01% |
+10,000
| New | +$71.7K |
|
81
Berkshire Hathaway Class B
BRK.B
$1.08T
| – | – |
-441
| Closed | -$222K |
|
|
82
Xtrackers MSCI Europe Hedged Equity ETF
DBEU
$793M
| – | – |
-823,835
| Closed | -$37.9M |
|
83
Dell
DELL
$295B
| – | – |
-4,067
| Closed | -$577K |
|
84
PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund
HYS
$1.78B
| – | – |
-513
| Closed | -$49.1K |
|
|
85
iShares Bitcoin Trust
IBIT
$58.6B
| – | – |
-53,878
| Closed | -$3.5M |
|
|
NNDM
86
Nano Dimension
NNDM
$333M
| – | – |
-50,000
| Closed | -$78.5K |
|
87
TeraWulf
WULF
$7.66B
| – | – |
-45,000
| Closed | -$514K |
|
|
ETHA
88
iShares Ethereum Trust ETF
ETHA
$7.57B
| – | – |
-38,220
| Closed | -$1.2M |
|
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Permanens Capital's Q4 2025 Portfolio in Review
As of Q4 2025, Permanens Capital held 88 positions worth $767M, up 14% from $671M the previous quarter. Its ten largest holdings account for 75% of the portfolio.
Permanens Capital deployed $52.9M of net new capital in Q4 2025, opening 26 new positions and adding to 36 existing holdings. Its largest new stake was iShares Gold Trust Micro: 152,381 shares worth $6.55M.
By sector, the portfolio is most concentrated in Miscellaneous at 80% of assets, down from 87% a quarter earlier, followed by Financials and Technology.
On the sell side, the largest reduction was Vanguard Morningstar Growth ETF, an estimated $44.9M trimmed.
- Permanens Capital's largest Q4 2025 buy was iShares Gold Trust Micro: 152,381 shares worth $6.55M.
- Permanens Capital added most to JPMorgan BetaBuilders Europe ETF in Q4 2025, an estimated $39.4M increase.
- Permanens Capital's biggest Q4 2025 reduction was Vanguard Morningstar Growth ETF, cutting an estimated $44.9M.
- Permanens Capital fully exited Xtrackers MSCI Europe Hedged Equity ETF in Q4 2025, selling an estimated $37.9M.
- Permanens Capital's ten largest holdings make up 75% of its $767M portfolio in Q4 2025.
- Permanens Capital opened 26 new positions and closed 8 in Q4 2025.
- Permanens Capital's portfolio value rose 14% quarter-over-quarter to $767M.
Based on Permanens Capital's 13F filing for Q4 2025, filed 17 Feb 2026.